Grosvenor has said it is teaming up with a Canadian investor to launch a pan-European retail investment fund.
Urban Retail V is the fifth fund to focus on the high street sub-sector and will target 鈥渃ore cities鈥� in the UK, France, Belgium, Sweden, Finland, Denmark, Italy and Spain.
Both Grosvenor and one of its existing Canadian investors will provide approximately 鈧�400m in initial in capital.
Grosvenor has a history of entering into joint ventures with Canadian investors, including Canada Pension Plan Investment Board and PSP Investments.
鈥淕iles Wintle, regional director at Grosvenor, said: 鈥淭his partnership builds on an already fruitful relationship and the whole team looks forward to working with our clients to build a portfolio of high-quality retail assets that will be proactively managed to outperform the market over time.鈥�
